Rietumu Bank Started New Line of International Lending
OREANDA-NEWS. February 15, 2012. Rietumu Bank has started a new line of international lending – financing of shipping companies for the purpose of business expansion and ships acquisition, reported the press-centre of Rietumu Bank.
“Shipping is a reliable and perspective business, which has an important advantage – mobility. At the same time, this business is one of the most capital-intensive ones, and our clients are interested in expanding and modernizing their fleets. Therefore, Rietumu Bank has taken a decision to start financing shipping companies. I think that this trend will become one of the most perspective ones, especially as we are one of the few banks in the Baltic States offering loans for ship owners,” says Dmitry Pavlov, Head of the International Lending Department of Rietumu Bank.
Rietumu client – is a middle-size shipping company realizing cargo operations on the Baltic, the Black, the Mediterranean and the Azov Seas. Currently the bank is conducting negotiations concerning the allocation of credit resources to a number of companies specialising on international marine-freight services.
“We do not try to compete with global financial structures. Rietumu Bank has its own niche – working with medium-size shipping companies, which are interested in collaborating with the European bank having an extensive experience of operating both in the East and in the West. Rietumu – is an ideal business partner for companies which have several dozens of millions of us dollars worth projects. To our customers we offer not only attractive interest rates, but also customer-tailored service” indicates Dmitry Pavlov.
Rietumu Bank offers its clients both new long-term loans against vessels, and refinancing of the already existing loans at other credit institutions. The spectrum of potential projects encompasses practically all types of cargo-and-passenger and cargo ships, including bulk-carriers, refrigerator vessels, petrol ships, bunker ships and others.